Shell Shuts in Production at Bonny Light Terminal Due to Attacks

Oil prices rebounded slightly on news of further militant attacks in key producer Nigeria, after falling sharply yesterday.

Shell announced today that 150,000 bpd of crude oil production has been locked in at its Bonny Light terminal in Nigeria after pipelines were sabotaged.


The attack comes the day after new Nigerian President Umaru Yar’Adua found militants receptive to his conciliatory inauguration speech, raising hopes of
increased stability in the crude-rich Niger Delta Region.

Militant attacks in the region have cut peak Nigerian crude production by around 25 percent for more than a year.

Xinhua